Comex copper prices dipped Friday morning in the US with a stronger dollar providing a serious headwind against the base metals complex.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 2.50 cents to $2.7295 per lb. Broad strength in the dollar, which is trading at its highest level since July, is proving the most prominent headwind to bas...Read More
A summary of Glencore's third-quarter production results for the three months ended September 30 (own-sourced output volume, year-on-year change):Copper - 366,900 tonnes, + 21% Increase reflects the restart/ramp-up of Katanga operations in the Democratic Republic of Congo. Katango restarted in December 2017. Own-source copper metal from Katanga increased by 10% quarter on quarter to 39,300 tonnes...Read More
The continuing use of trade tariffs applied to global movements of steel and aluminium products is expected to open up opportunities for strategic investors in metals and mining which are looking to consolidate and stay competitive, according to a report by global consultancy firm PwC.PwC noted that foreign businesses are starting to target inbound mergers and acquisitions (M&A) activity in the Un...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
China's domestic spot battery-grade lithium carbonate prices have started to move up this week after continuous price decreases since November 2017 due to reduced production from Qinghai, stronger industrial-grade lithium carbonate prices and lower stocks of lithium compounds.China's battery-grade lithium hydroxide prices held steady on quiet demand, while prices for the rest of the world went dow...Read More
Usiminas, Brazil's largest flat steel producer, focused on the domestic market during the third quarter and achieved its highest steel sales volume since the fourth quarter of 2015, its earnings report shows.Steel shipments rose by 8.96% to 1.11 million tonnes from 1.02 million tonnes a year before, the company reported on Friday October 26. The steelmaker sold 992,000 tonnes to Brazilian customer...Read More
Domestic prices for coated steel coil products in Turkey decreased in the week ended Friday October 26, with demand remaining poor in the local market.Market participants were not expecting much improvement in local demand until the end of 2018, because of the low end-user requirements and the recent economic problems in the country.The Turkish lira lost significant value in August and September,...Read More
Sentiment in Turkey's flat steel market remained negative in the week ended Friday October 26, with prices going down, sources told Fastmarkets.Market participants did not expect local demand to improve until at least the end of 2018, because of the unwillingness to restock before the year-end. But they were uncertain about further price falls because of high costs for scrap and other raw material...Read More
Metal Bulletin reviews the major stories that have affected the steel market during the week ended October 26.Raw Materials The Singapore Exchange's high-grade iron ore derivative contract will promote efficiency and transparency in price discovery and risk management related to this segment of the steelmaking raw material, market participants say.Global miner Vale has room to replace sales of low...Read More
Domestic rebar prices in Poland have been largely stable over the week, but the mills are likely to try to achieve higher prices in November, sources told Fastmarkets MB on Friday October 26.The sources, however, doubt that the rise of official offers will be reflected in the transaction prices.Polish steelmakers are expected to announce new prices in early November. In the meantime, no deals have...Read More
The latest metal markets news and price moves to start the North American day on Friday October 26. Base metals prices on the London Metal Exchange were lower across the board during morning trading on Friday October 26, with a marked downturn in global equity markets prompting further risk-aversion while a continued surge in the dollar index kept prices subdued.The three-month nickel price deprec...Read More
Pig iron exporters in Brazil kept their prices low during week ended Friday October 26, despite the national currency becoming stronger.Fastmarkets' weekly price assessment for pig iron exports from the south-eastern Minas Gerais region on October 26 was stable at $350 per tonne fob.One cargo from southern Brazil was...Read More
Ferrous scrap prices moved in differing directions in the various global markets over the week from Monday October 22 to Friday October 26, depending on their market fundamentals.Import prices in the key Turkish market were on a slight upward trend due to consistent demand, while prices in Asia dipped because there was sufficient supply and weak demand.Export prices on the West Coast of the United...Read More
Buyers of pig iron in the United States have rejected high offers from the Commonwealth of Independent States because of the uncertainty in the market for hot-rolled coil, sources told Fastmarkets on Friday October 26.Fastmarkets' price assessment for US imports of pig iron narrowed downward to $375-390 per tonne cfr on October 26, from $375-395 per tonne a week before."The US flat steel producers...Read More
Indian domestic prices for secondary steel billet fell by at least 400 rupees ($5) per tonne this week, in line with a bigger dip in prices for finished products such as rebar, Fastmarkets heard on Friday October 26.The price for secondary billet, mainly produced in induction furnaces, was 33,600-33,800 rupees ($459-462) per tonne ex-mill on Friday. This was down by 400 rupees per tonne from last...Read More
Brazilian slab export prices went up on Friday October 26, amid a stronger focus on trade to the United States and with no deals being made to other destinations.Fastmarkets' assessment of the weekly price of Brazilian slab exports reached $505-515 per tonne fob on Friday, up from $500-510 per tonne fob in the previous week.At least three different cargoes were sold to the US market for December s...Read More
Usiminas, Brazil's largest flat steel producer, focused on the domestic market during the third quarter and achieved its highest steel sales volume since the fourth quarter of 2015, its earnings report shows.Steel shipments rose by 8.96% to 1.11 million tonnes from 1.02 million tonnes a year before, the company reported on Friday October 26. The steelmaker sold 992,000 tonnes to Brazilian customer...Read More
European transaction prices for grade-304 cold-rolled (CR) sheets fell dramatically this week because domestic mills are fighting for market share with imported material, sources said.Fastmarkets' weekly assessment for grade-304 CR sheets was ?,?2,200-2,300 ($2,506-2,620) per tonne delivered on Friday October 26, down by ?,?100 per tonne. https://www.metalbulletin.com/My-price-book.html?price=4361...Read More
Joint acquisition partners ArcelorMittal and Nippon Steel & Sumitomo Metal Corp (NSSMC) are looking to India as a growth market after ArcelorMittal won the bid to buy insolvent Essar Steel. "India is one of the most promising markets in the world with significant growth potential in the medium- and long-term and where domestically-produced steel products have a superior position," NSSMC said in it...Read More
Sentiment in Turkey's flat steel market remained negative in the week ended Friday October 26, with prices going down, sources told Fastmarkets.Market participants did not expect local demand to improve until at least the end of 2018, because of the unwillingness to restock before the year-end. But they were uncertain about further price falls because of high costs for scrap and other raw material...Read More